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3413 Cimarron Dr Orlando, FL 32829

3 Beds 2 Baths 1,904 sqft Built 1979

$285,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $149.68
  • 4 Days on Market
  • MLS # : O5918348
  • Updated Date : 01/22/2021 at 19:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full
Listing Agent

Florida Realty Investments

Listing Agent's Description

This open concept home in East Orlando is centrally located minutes from the Orlando International Airport, Route 417, Valencia State College, University of Central Florida, shopping, restaurants and more. Updates include newer roof, water heater, and repiped (all in 2017), new electrical panel (2020), and double pane windows. The kitchen with granite countertops, updated appliances and island is open to the family room and dining area. The master suite of this split floorplan home includes a large walk-in shower with updated tile and a walk-in closet. The bay windows provide the bonus room/Florida Room with plenty of light. There is a separate living room which could be used as an office or made into a bedroom. The fenced back yard includes a paver path, mature landscaping, a putting/chipping green and large covered deck and backs onto county property so no rear neighbors. NO HOA. More photos to be added soon!

SEE MORE

MARKET HIGHLIGHTS

  • Orlando metro's economy is worth $141 billion in Gross Metro Product and projected to grow to $149 billion in 2019 (USMayors.org, 2018)
  • Together Walt Disney World Resort and Universal Orlando Resort employ 96,000 people and drive tourism (Orlando Economic Partnership)
  • Orlando metro employment growth is at 3.5% and predicted to grow at 2.5% in 2019 (USMayors.org, 2018)
  • Orlando metro contributes to 13.8% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • Orlando metro has 64.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Orlando ranks 7th in U.S. for economic growth (Milken Instutute/ Orlando Sentinel, 2018)
  • Major employers in Orlando market: Walt Disney World Resort; Advent Health; Universal Orlando Resort; Orange County Public Schools; University of Central Florida; Lockheed Martin; and Darden Restaurants.
  • Space coast area has attracted $1.4 billion in capital investments over the past 6-years and generated 1,800 new jobs in 2017 (WSJ, 2017)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Orlando inherits the same rank being part of Florida.

PRICE & RENT TRENDS

Neighborhood: Chickasaw Woods

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k253k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Chickasaw Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8451712

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Cornerstone Charter Academy K-8 Primary Charter 933 52 7
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Cornerstone Charter Academy K-8

  • Education Level: Primary
  • # of students: 933
  • # of teachers: 52
7
GreatSchools Rating

Cornerstone Charter Academy K-8

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 52
7
GreatSchools Rating

Cornerstone Charter Academy High School

  • Education Level: High
  • # of students: 372
  • # of teachers: 21
7
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$990
Property Tax -$324
Property Insurance -$150
Property Management Fees -$129
CASH FLOW
$97

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.21%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$22,754

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,690

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,690

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,6753$1,6904$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 3413 Cimarron Dr Orlando, FL 3
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.89
    •  
  • 8619 Catbriar Ln Orlando, FL 1
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1983
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.79
    •  
  • 2064 Ambergris Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1988
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.82
    •  
  • 3465 Fox Hollow Dr Orlando, FL 4
    • 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,206 Sqft ∙ Built 1991
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 3714 Peace Pipe Dr Orlando, FL 5
    • 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 1992
    property image
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.04
    •  
PROPERTY LISTING DETAILS
Cheryl Urciuoli
1.407.415.8006
Florida Realty Investments
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5918348
Last Updated: 01/22/2021
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